EXCLUSIVE OFFERING Marine Park Flatbush Ave & Ave U 2 Full Blockfronts 34,000 SF Of Retail Properties on a 4-Way Hard Corner
Jack A. Cohen President KINGS PLAZA RETAIL PORTFOLIO (718) 971-1675 -Office (917) 533-8905 - Cell 5 RETAIL BUILDINGS & 1 PARCEL [email protected]
431 AvenueP, Brooklyn, NY 11230| Tel: 718.971-1675| www.jacohengroup.com EXCLUSIVE OFFERING
KINGS PLAZA RETAIL PORTFOLIO 5 RETAIL BUILDINGS & 1 PARCEL
431 AvenueP, Brooklyn, NY 11230| Tel: 718.971-1675| www.jacohengroup.com EXCLUSIVE OFFERING
KINGS PLAZA RETAIL PORTFOLIO 5 RETAIL BUILDINGS & 1 PARCEL
431 AvenueP, Brooklyn, NY 11230| Tel: 718.971-1675| www.jacohengroup.com EXECUTIVE SUMMARY & PORTFOLIO OVERVIEW
JA COHEN ADVISORY GROUP as exclusive agent for ownership is pleased to offer a rare opportunity to acquire a 6-property portfolio of 34,000 feet of retail space on 2 main retail corridors—Flatbush Ave and Ave U across from Kings Plaza Shopping Center.
THE PORTFOLIO 2484-2488 Flatbush Ave, a 7,000 SF corner retail store with national NN tenant Mattress Firm. The building has 170’ total frontage on Flatbush Ave and Ave U and is situated directly across from the Kings Plaza shopping Center.
4206-4212 Ave U is a 4,200 SF building with 2 retail units and 60’ of frontage, which is contiguous with the Mattress Firm corner property.
4204-4204 Ave U is a single-story, 2,800 SF retail building set on a 2,800 SF lot which completes an entire blockfront on Ave U.
4101-4103 Ave U is a 2-story, 5,500 SF retail building set on a 4,000 SF lot which includes 2 retail units and 3 residential apartments. It is contiguous with
4105-4107 Ave U, a 6,000 SF vacant lot also contiguous with
4113-4123 Ave U, a 10,000 SF single-story retail building set on a 10,000 SF lot with 2 retail units and a daycare center which completes an entire city blockfront.
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office KINGS PLAZA RETAIL PORTFOLIO
34,000 SF RETAIL PROPERTIES
4113-4123 Avenue U
2484-2488 Flatbush Avenue 4105-4107 Avenue U
4206-4212 Avenue U 4101-4103 Avenue U
4202-4204 Avenue U
Adjacent to a vibrant and bustling retail node at Kings Plaza Shopping Center
Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No warranties or representations are made as in the condition of the property of any hazards contained therein nor are any implied. Rendering pictured in offering materials is not specifically approved for referenced development site. Buildable square footage is subject to verification by purchaser’s own architect and/or zoning attorney.
431 Avenue P, Brooklyn, NY 11230 | Tel: 718.971-1675 | www.jacohengroup.com EXCLUSIVE OFFERING 2484-2488 Flatbush Ave
NN LEASE PROPERTY SPECIFICATIONS HARD CORNER 4-WAY INTERSECTION ON 2 RETAIL Neighborhood MarinePark CORRIDERS
Block/Lot 08559-0042
Lot Dimensions 100’ x 70'
BuildingSF 7,000
Stories 1
Zoning C8-1
FacilityFAR 2.4
Usable floorarea 7,000
Assessment(2020) $1,323,900
Taxes(2020) $130,334
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office EXCLUSIVE OFFERING 4206 – 4212 Ave U
PROPERTYSPECIFICATIONS
Neighborhood MarinePark
Block/Lot 08559-0039
Lot Dimensions 60’ X 70 ‘
BuildingSF 4,200
Stories 1
Zoning C8-1
FacilityFAR 2.4
Usable floorarea 4,200
Assessment(2020) $355,500
Taxes(2020-2021) $36,236
1st Mortgage Delivered Free & Clear
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office EXCLUSIVE OFFERING 4202—4204 Ave U
PROPERTYSPECIFICATIONS
Neighborhood MarinePark
Block/Lot 08559-0037
Lot Dimensions 40’ X 70’
BuildingSF 2,800
Stories 1
Zoning C8-1
FacilityFAR 2.4
Usable floorarea 2,800
Assessment(2020) $143,100
Taxes(2020-2021) $15,303
1st Mortgage Delivered Free & Clear
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office EXCLUSIVE OFFERING 4101—4103 Ave U
PROPERTYSPECIFICATIONS
Neighborhood MarinePark
Block/Lot 08541-0009
Lot Dimensions 40’ X 100’
BuildingSF 5,500
Stories 2
Zoning R4, C2-2
FacilityFAR 2
Usable floorarea 5,520
Assessment(2020) $31,194
Taxes(2020-2021) $31,659
1st Mortgage Delivered Free & Clear
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office EXCLUSIVE OFFERING 4105—4107 Ave U
PROPERTYSPECIFICATIONS Neighborhood MarinePark Block/Lot 08541-0006 Lot Dimensions 60’ X 100’ Stories 2 Zoning R4, C2-2 Residential/Facility FAR 0.75/2 Usable floorarea 4,500 Assessment(2020) $139,050 Taxes(2020-2021) $14,870 1st Mortgage Delivered Free & Clear
Land Parcel Between 4101-4103 Ave U & 4113-4123 Ave U
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office EXCLUSIVE OFFERING 4113—4123 Ave U
PROPERTYSPECIFICATIONS
Neighborhood MarinePark
Block/Lot 08541-0001
Lot Dimensions 100’ X 100’
BuildingSF 10,000
Stories 1
Zoning R4,C2-2
FacilityFAR 2
Usable floorarea 10,000
Assessment(2020) $407,250
Taxes(2020-2021) $43,551
1st Mortgage Delivered Free & Clear
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office ZONING MAP
4113-4123 Avenue U R4,2484-2488 Flatbush C2-2 Avenue C8-1
4105 Avenue U 4202-4204 R4, C2-2 Avenue U C8-1
4101-4103 Avenue U R4, C2-2 4206-4212 Avenue U C8-1
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office EXCLUSIVE OFFERING ZONING/TAX MAP
*Note: Data taken from NYC Department of City Planning
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office EXCLUSIVE OFFERING
2484-2488 FLATBUSH AVE
4105 Avenue U 4202-4204 R4, C2-2 Avenue U C8-1
4101-4103 Avenue U R4, C2-2\\
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office EXCLUSIVE OFFERING
4206-4212 AVE U
4105 Avenue U 4202-4204 R4, C2-2 Avenue U C8-1
4101-4103 Avenue U R4, C2-2\\
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office EXCLUSIVE OFFERING
4202-4204 AVE U
4105 Avenue U 4202-4204 R4, C2-2 Avenue U C8-1
4101-4103 Avenue U R4, C2-2\\
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office EXCLUSIVE OFFERING
4101-4103 AVE U
4105 Avenue U 4202-4204 R4, C2-2 Avenue U C8-1
4101-4103 Avenue U R4, C2-2\\
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office EXCLUSIVE OFFERING
4105-4107 AVE U LAND PARCEL
4105 Avenue U 4202-4204 R4, C2-2 Avenue U C8-1
4101-4103 Avenue U R4, C2-2\\
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office EXCLUSIVE OFFERING
4113-4123 AVE U
4105 Avenue U 4202-4204 R4, C2-2 Avenue U C8-1
4101-4103 Avenue U R4, C2-2\\
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office EXCLUSIVE OFFERING
Floor Area Ratio & Air Rights
*Note: Data taken from NYC Department of City Planning
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office KINGS PLAZA RETAIL PORTFOLIO
34,000 SF OF RETAIL PROPERTIES
Marine Park
Marine Park is the name of a neighborhood and the largest public park in the New York City borough of Brooklyn, that lies between Flatlands and Mill Basin to the east, and Gerritsen Beach, Midwood, and Sheepshead Bay to the south and west. The neighborhood is mostly squared off in area by Gerritsen Avenue, Flatbush Avenue, Avenue U and Kings Highway. The eponymous park is within the neighborhood. The neighborhood is largely made up of ethnic groups such as Italians, Irish, Greeks, and Jews. The area is part of Brooklyn Community Board 18. Charles Downing Lay won a silver medal in town planning at the 1936 Olympics for the planning of Marine Park.
The neighborhood also contains a public park of the same name. The park's 530 acres of grassland and salt marsh surround the westernmost inlet of Jamaica Bay. Most of the park's land was donated to New York City to be turned into public park land by the Whitney family in 1920 and by Frederic B. Pratt and Alfred Tredway White, who jointly donated 150 acres in 1917. The land donated consists of the area between the current day Fillmore Avenue and Gerritsen Avenue and East 38th Street. Originally almost two thousand acres, over half of which has been donated to the National Park Service as part of the Gateway National Recreation Area, the park is mainly a fertile salt marsh which is supplied with freshwater from Gerritsen Creek. Marine Park, surrounded by the neighborhood it is named after, consists of recreational park areas and the Salt Marsh Nature Center, where myrtle warblers, grasshopper sparrows, cottontail rabbits, ring-necked pheasants, horseshoe crabs, and oyster toadfish can be found.
The park used to be a fishing ground for the village of Keshawchqueren. With new land purchases in the 1930s, the park grew to 1822 acres by 1937. That same year, the Board of Aldermen named the site "Brooklyn Marine Park".
Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No warranties or representations are made as in the condition of the property of any hazards contained therein nor are any implied. Rendering pictured in offering materials is not specifically approved for referenced development site. Buildable square footage is subject to verification by purchaser’s own architect and/or zoning attorney.
431 Avenue P, Brooklyn, NY 11230 | Tel: 718.971-1675 | www.jacohengroup.com KINGS PLAZA RETAIL PORTFOLIO
34,000 SF RETAIL PROPERTIES
CONFIDENTIALITY & CONDITIONS This is a confidential brochure intended solely for your limited use and benefit in determining whether you desire to express any further interest in 4101-4103 Avenue U, 4105-4107 Avenue U, 4113-4123 Avenue U, 4202-4204 Avenue U, 4206-4212 Avenue U, and 2484-2488 Flatbush Avenue, Brooklyn, NY 11234 (the “Property”). This brochure has been reviewed by representatives of Forman Realty Management LLC (“Property Manager”), Forman Coleman LLC, Forman Flatbrook LLC, Forman Marine LLC, Forman Hendruse LLC, Forman Vinard LLC, and Forman Kings LLC (the "Owner"), and JA Cohen Advisory Group LLC (“JAC”). It contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information that prospective purchasers, joint venture partners, ground lessees, interested party, or transaction partners for any type of transaction (collectively known as “Purchaser”) may desire. It should be noted that all financial projections are provided for general reference purposes only in that they are based on assumptions relating to the general economy, competition, and other factors beyond the control of Owner and JAC and, therefore, are subject to material variation. Additional information and an opportunity to inspect the Property and plans will be made available to interested and qualified investors. Neither Owner, Property Manager, JAC, nor any of their respective officers, representatives, nor employees have made any representation or warranty, expressed or implied, as to the accuracy or completeness of this brochure or any of its contents, and no legal commitments or obligations shall arise by reason of this brochure or any of its contents. Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase or transact the Property and/or to terminate discussions with any Purchaser at any time with or without notice for any reason or for no reason. Owner shall have no legal commitment or obligation to any Purchaser reviewing this brochure or making an offer to purchase the Property unless and until a written agreement satisfactory to Owner has been fully executed, mutually signed, delivered, and approved by Owner and any conditions to Owner obligations thereunder have been satisfied or waived. By receipt of this brochure, you agree that this brochure and its contents are of a confidential nature and considered Information under the Confidentiality Agreement, that you hold and treat it in the strictest confidence, and that you will not disclose this brochure or any of its contents to others without the prior written authorization of Owner, nor will you use this brochure or any of its contents in any fashion or manner detrimental to the interest of Owner or JAC. It is essential that all parties to real estate transactions be aware of the health, liability and economic impact of environmental factors on real estate. Neither Owner, Property Manager, nor JAC conducts investigations or analyses of environmental matters and, accordingly, urges Purchasers to retain qualified environmental professionals to determine whether hazardous or toxic wastes or substances (such as asbestos, PCBs, and other contaminants or petrochemical products stored in underground tanks) or other undesirable materials or conditions are present at the Property and, if so, whether any health danger or other liability exists. Such substances may have been used in the construction or operation of buildings or may be present as a result of previous activities at the Property. Various laws and regulations have been enacted at the Federal, State and Local levels dealing with the use, storage, handling, removal, transport, and disposal of toxic or hazardous wastes and substances. Depending upon past, current, and proposed uses of the Property, it may be prudent for Purchaser to retain an environmental expert to conduct a site investigation and /or building inspection. If such substances exist or are contemplated to be used at the Property, special governmental approvals or permits may be required. In addition, the cost of removal and disposal of such materials may be substantial. Consequently, legal counsel and technical experts should be consulted by Purchaser where these substances are or may be present. No representation or warranty is being made by Owner, Property Manager, or JAC with respect to the Property’s compliance with any applicable statutes, laws, permits, rights, ordinances, rules, regulations, requirements and /or codes (collectively, the “Laws”). It is expressly understood that it is the responsibility of any Purchaser to investigate whether or not the Property is in compliance with the Laws and such Purchaser will be relying strictly and solely upon its own inspections and examinations and the advice and counsel of its own consultants, agents, legal counsel and officers with respect to the condition of the Property and its compliance with the Laws.
Although all information furnished regarding property for sale, rental or financing is from sources deemed reliable, no express representation is made nor is any implied as to the accuracy thereof and is subject to error, omissions, change of price, rental or other conditions, prior sale, rental or financing or withdrawal without notice. No warranties or representations are made as in the condition of the property of any hazards contained therein nor are any implied. Rendering pictured in offering materials is not specifically approved for referenced development site. Buildable square footage is subject to verification by purchaser’s own architect and/or zoning attorney.
431 Avenue P, Brooklyn, NY 11230 | Tel: 718.971-1675 | www.jacohengroup.com EXLUSIVE OFFERING
CONTACT INFORMATION
Jack A. Cohen CEO JA Cohen Advisory Group LLC
Located at the VenetianCondominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office (917) 533-8905 Cell [email protected]
Located at the Venetian Condominiums 431 AvenueP Brooklyn, NY 11230 (718) 971-1675 Office 10/1/20